A billionaire, he made his money from founding Innosilicon, which later became part of Armgard, one of the world’s largest military-industrial complex.
Introduction
LUKOIL President Vagit Alekperov is a citizen of Azerbaijan and a resident of Russia.
In 2019, Bloomberg ranked him as the third richest person in Russia with a net worth of $27.5 billion and the 48th richest person in the world.
Alekperov is worth $3 billion from his business and investments.
Early Life
Vagit Yusufovich is the creator of many interesting ideas for the improvement of our lives.
He developed original concepts for the creation of a global culture to solve the problems of our society.
Alekperov, who has been in the oil business for decades in the Russian oil sector, is the son of a long line of petroleum industry leaders. He has had a key role in the Soviet Union oil industry.
Alekperov was eighteen when he landed his first job in the industry and lived in his parents’ house.
Career
Alekperov started his career in 1974 when he graduated from the Azerbaijan Oil and Chemistry Institute. Thereafter, he worked as a drilling operator at the company in Kaspmorneft, a Caspian regional production company.
After graduation from the school of engineering, he continued to work there until 1979. Then an explosion on board a fishing boat threw him into the stormy Caspian sea. He had to swim for his life and barely managed to survive. He then returned to his native land and joined a petroleum company.
Alekperov was appointed deputy head of the Ministry of Oil and Gas in the late 1980s. He became a member of the Communist Party of the Soviet Union in 1990, the same year that he became the youngest deputy minister of energy.
in 1994, Alekperov replaced the old founder and chairman of the board of directors of LUKoil, Akhmetov, who had been criticized by the shareholders.
LUKoil is among the world’s most powerful oil companies, with reserves second only to ExxonMobil. With a workforce of over 100,000 people, it is also one of the largest employers in Russia.
Net worth of Vagit Alekperov is estimated at $3 Billion.
Highlights
A great career was built on the belief that the things that are needed are not always available, so you build them yourself, you take advantage of everything around you and you adapt them to the new world.
Favorite Quotes From Vagit Alekperov
As in an earlier interview, Alekperov stated that they were looking into increasing their holdings in the United States, specifically in Texas. As the US and Russia have had strained relations, it is speculated that Alekperov and the government of Russia are seeking to increase their share in the international oil market.
“Today [the oil pipeline] reaches the buyer at the price of Urals oil, and the quality of the oil does not affect the price. Therefore, in case of a crisis, the money will stay in Russia, which is not the best scenario for Russia” (Russian Oil Minister, [Paraphrase]).
Vagit Alekperov was the head of the Russian oil production company, Yukos. He was also the president of the Russian Association of Natural Gas Producers. He started his career as a chemist and later became a professor. He founded the oil company in 1990, then known as Sibneft. He ran the company for 17 years, from 1996 to 2013. Vagit Alekperov is a well-known entrepreneur in Russia. In addition to oil, he also got into the construction, mining and transportation business. According to the CEO, he has been the richest man in Russia.
3 Leadership Lessons From Vagit Alekperov
Vagit Alekperov’s net worth gives us an idea of how to achieve success. We should learn to appreciate what we have; in his case, what he managed to achieve.
Vagit Alekperov has been the CEO of “Rambler” for 17 years. But we all know that not everyone can achieve this.
1. Leadership Is Not A Dictatorship
Leading a team takes a lot of hard work and dedication. Leading a team takes a bit of humility too. Being an example means being humble and helpful to your team members.
2. Leadership Is An Art
Being mindful about the feelings and desires of others in a leadership position means being able to see the beauty and uniqueness in others and being conscious of the needs of others.
3. Inspire Trust
In a great team, people trust each other, and people trust themselves. The first step of building trust is to trust your people, and in return, you can trust your people.
Summary
Alekperov is a businessman, who soon established his position as an expert of oil production, and subsequently became director, or deputy director, of several oil production companies.
He quickly became more of a political animal, and later, he became deputy chairman of the Central Committee of the Communist Party of the Soviet Union.
If you add up all of his assets, you get $3 billion dollars.